Sequans Dumps 970 BTC to Slash Debt as Bitcoin Price Hits 4-Month Low – Is This a Red Flag?

Paris-based semiconductor firm Sequans Communications has sold nearly 970 Bitcoin, about a third of its total holdings, in a bid to cut debt and stabilize its balance sheet, becoming the first publicly traded Bitcoin treasury company to offload its reserves amid a cooling crypto market. The company announced on Tuesday that the sale has funded the redemption of 50% of its outstanding convertible debt, thereby reducing liabilities from $189 million to $94.5 million. The transaction, valued at roughly $94. ...